Lot 48: FREEHOLD GROUND RENTS

Sold £6,500

A freehold semi-detached block divided into three flats, each sold on 999 year leases from 25th March 1960. Flat A has a current ground rental of £200 per annum, doubling every 21 years, next increase to £400 due on 25th March 2037. Flat B has a current ground rental of £5 per annum. Flat C has a current ground rent of £150 per annum, increasing by £50 every 21 years, next increase to £200 due on 29th September 2039.

We understand the leaseholders currently self-manage the block, however, the leases provide for the freeholder to insure, maintain and manage the block and for the freeholder to recoup the costs from the leaseholders by way of service charge.

Auctioneer’s Note

Section 5(b) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.